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アイテム
Monetary Policy under the Zero Lower Bound Interest : Japan's Experience
https://kyotogakuen.repo.nii.ac.jp/records/935
https://kyotogakuen.repo.nii.ac.jp/records/9350aad4381-314c-4341-921f-1c498293bd3c
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
23-1-morita_miyagawa (368.6 kB)
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| アイテムタイプ | [ELS]紀要論文 / Departmental Bulletin Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2016-08-09 | |||||
| タイトル | ||||||
| タイトル | Monetary Policy under the Zero Lower Bound Interest : Japan's Experience | |||||
| 言語 | en | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Quantitative easing | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Financial anxiety | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Transaction money | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Precautionary money | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||
| 資源タイプ | departmental bulletin paper | |||||
| item_2_source_id_1 | ||||||
| 収録物識別子タイプ | NCID | |||||
| 収録物識別子 | AN10373395 | |||||
| item_2_relation_1 | ||||||
| 関連タイプ | isPartOf | |||||
| 識別子タイプ | PISSN | |||||
| 関連識別子 | 09167331 | |||||
| 言語 | ja | |||||
| 関連名称 | 京都学園大学経済学部論集 | |||||
| item_2_title_3 | ||||||
| タイトル | Monetary Policy under the Zero Lower Bound Interest : Japan's Experience | |||||
| 著者 |
宮川, 重義
× 宮川, 重義× Miyagawa, Shigeyoshi× Morita, Yoji |
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| 著者所属(英) | ||||||
| en | ||||||
| Department of Economics, Kyoto Gakuen University | ||||||
| 著者所属(英) | ||||||
| en | ||||||
| Department of Economics, Kyoto Gakuen University | ||||||
| item_2_description_9 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | Article | |||||
| item_2_description_11 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | This paper quantifies the effect of non-traditional monetary easing at the zero lower bound on interest rate, so called “quantitative easing monetary policy” which the BOJ adopted from March 2001 through June 2006, by changing operating target for money market from the uncollateralized call rate to the outstanding current account balances held by financial institutes at the BOJ. The paper confirms that the monetary policy has contributed to the recovery of the prolonged deflation. First we estimate a minimal VAR model, which consists of the current account balances at the BOJ (CABs) as a policy variable, real GDP, and inflation rate. Next we decompose money stock into transaction money and precautionary money to evaluate the transmission mechanism of the effect of CABs on the real economy by taking into account the financial anxiety. We have found a quantitative easing shock firstly increases transaction money and then raises output and price, which dispels the anxiety. We also confirm that a liquidity trap did not exist during the period of quantitative easing monetary policy. |
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| bibliographic_information |
巻 23, 号 1, p. 51-66, 発行日 2013-09-01 |
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| item_2_description_15 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 3 | |||||
| item_2_description_16 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | KJ00010210259 | |||||
| item_1702879049583 | ||||||
| 出版者 | 京都学園大学経済学部学会 | |||||
| 言語 | ja | |||||
